Higgins of The Argo Corp. addresses the biggest challenge facing the real estate industry in 2010

The biggest challenge facing the real estate industry in 2010 is... ...the Roberts decision, which will change the face of rental housing as we know it. For landlords, the administrative issues will be overwhelming. The ways in which housing courts and the DHCR independently deal with tenants' deregulation status could further exacerbate matters. Adding to that, a divided state legislature may not be able to quickly effectuate legislation to clarify this decision. As a result, we will most likely be working through a morass of contradictory opinions and interpretations. And an even larger challenge, potentially, is how this decision will impact our commercial lending industry as owners who recently acquired assets struggle to meet their projections, now based on decreased operating income. Conversely, some firms will find opportunities for new acquisitions at numbers that reflect this uncertainty. I am the vice president at The Argo Corp. I specializes in leasing residential and commercial properties, as well as managing mid and high-rise residential properties in New York City. I have particular expertise in real estate law and New York City Building and Housing Department policy. During my three-decade tenure, I have been responsible for negotiating dozens of retail leases and administering over 15,000 residential leases. In addition, I manage an investment portfolio for The Argo Corp. and its affiliated entities, including the 2,000 apartments in the Argo-owned and operated residential portfolio. In that capacity, I am in charge of leasing Argo's residential and commercial assets and oversees all work pertaining to governmental agency work, such as lead compliance and other code issues. I am is affiliated with the following real estate organizations: CHIP, AREW, CREW, RSA, and The Real Estate Board of New York. Marina Higgins is the vice president at The Argo Corp., New York, N.Y.